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• VZ 73% Rate It

Telecom giant Verizon Communications Inc. ( VZ ) on Thursday posted first quarter earnings that narrowly beat Wall Street expectations, as holiday sales of Apple's ( AAPL ) iPhone 4S helped push the average monthly bill for wireless customers higher.

The New York-based company reported first quarter net income of $1.69 billion, or 59 cents per share, compared with $1.44 billion, or 51 cents per share, in the year-ago period.

Revenue rose 4.6% from last year to $28.2 billion.

On average, Wall Street analysts expected a slightly smaller profit of $1.68 per share, on matching revenue of $28.2 billion.

Verizon shares posted modest gains in early trading Thursday.

The Bottom Line
We have been recommending shares of Verizon ( VZ ) since Oct.10, 2008, when the stock was trading at $25.93. The company has a 5.31% dividend yield, based on last night's closing stock price of $37.66.

Verizon Communications Inc. ( VZ ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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